In a note worthy trend, seven stand alone health insurers have now...
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IRDA asks general insurers not to report premiums and commission for long term policies at one go
``Currently, only long-term Motor Third Party (TP) premium is...
IFRS Ready: IRDAI to meet industry honchoes to finalise norms at 2-day Bima Manthan
Debasish Panda, chairman,IRDAI ``It is our endeavour to implement...
IRDAI postpones implementation Indian Accounting Standard for insurers indefinitely
The effective date of implementation shall be decided after the finalisation of IFRS 17 by IASB, said IRDAI.
IRDAI chief cautions insurers against predatory pricing
When asked about his view on raising foreign investment in insurance sector from the current 49 per cent, he said IRDAI had sought opinions of stakeholders on raising foreign holding to 74 per cent and comments received have been forwarded to the government
IRDA approves 33 regulatory Sandbox proposals
Some of the other general insurers who have received regulatory approvals for their regulatory sandbox projects are- Religare Health Insurance, Bharti Axa General Insurance Co Ltd, Kotak Mahindra General Insurance, TATA AIG General Insurance, SBI General Insurance, Acko General Insurance Ltd, Liberty General Insurance Ltd, Reliance General Insurance Co, Edelweiss General Insurance.
Register drones by January 31 or face action: Aviation ministry
In the notice issued on Monday, the ministry said, “On successful submission of voluntary disclosure of possessing drone, a Drone Acknowledgement Number (DAN) and an Ownership Acknowledgement Number (OAN) will be issued online which will help in validation of operation of drones in India.”
Scandal-hit Indonesian insurer, with $2B financial hole, could get government bailout
The scandal has been unfolding during the past three years, after a 2016 audit revealed violations of investment guidelines. Another audit last year showed the insurer had negative equity of 27.2 trillion rupiah ($1.96 billion), sparking calls for a lifeline.
Insurers have to pay interest if health claims are delayed beyond 30 days:IRDAI
The insurer cannot not repudiate the policy on the ground of fraud, if the insured person / beneficiary can prove that the misstatement was true to the best of his knowledge and there was no deliberate intention to suppress the fact or that such mis-statement of or suppression of material fact are within the knowledge of the insurer. Onus of disproving is upon the policyholder, if alive, or beneficiaries
HDFC ERGO Health and HDFC ERGO General to seek NCLT nod soon for their merger
AnujTyagi, executive director & chief business officer at HDFC ERGO General Insurance Company Limited(HDFC ERGO General) has been appointed as the new Managing Director & CEO ofHDFC ERGO Health, subject to approval from the IRDAI
Cholamandalam GI and Toyota Tsusho lnsurance Broker penalised for violating MISP norms
Maruti lnsurance Broking Hero lnsurance Broking lndia have brought stays from the Securities Appellate Tribunal (SAT) against IRDAI’s decision to fine them for violating the Motor lnsurance Service Provider (MISP) norms
IRDAI penalises Malaysian brokers for cheating TATA-AIG in Rs 300 cr crop reinsurance deal
It all started when TATA-AIG General, which has since exited the crop insurance business after losing money heavily in the deal, made a complaint to IRDAI against Unison lnsurance Broker on Dec 21,2018 alleging fraud in reinsurance placement pertaining to crop insurance,with a premium of around Rs 300 crore in Rajasthan cluster for Kharif 2018.
Trump Administration seeks to limit ‘Overreach’ of Regulation of Artificial Intelligence
The comments come at a time when companies are racing to integrate AI and deep machine learning into their businesses to remain competitive. However, the technology raises ethical concerns about control, privacy, cyber security and the future of work, companies and experts have said.